Boston Parking Spots Sell For $560,000

Would you seriously pay this much for parking spots? Parking spots! I mean seriously, that is just insane. I know that parking is extremely limited and in high demand but I just couldn't believe that there was actually a bidding war and it went that high. The Internal Revenue Service seized the spots from a man who owed more than $600,000 in back taxes.I have a list of what I can buy for that amount of money and a parking spot or two is certainly not on it.

This Tandem parking spot is just steps from high-end Newbury Street shops. The neighborhood is home to the most valuable parking spots in the city. The last space that was for sale in that area set the record for a single spot at $300,000 in 2009 and two tandem spots a block from the Public Garden on Commonwealth Avenue sold for $200,000 last summer.

The winner didn’t want to be identified on camera. He/she is probably thinking his friends will think he’s/she’s crazy but I’ll tell you what, with limited parking in the city, this person is going to make some serious money on those two spots for sure.

What do you think, Insanity or investment?

*Photo source: Boston.com